Intra-Day Market Moving News and Views
Update Time: 06 July 2020 04:30GMT
USD/JPY - 107.74... The greenback found renewed buying at 107.47 in New Zealand today after Friday's sideways move in holiday-thinned North American session as U.S. markets were closed for Independence Day holiday. The pair then ratcheted higher to 107.77 in Tokyo morning on cross-selling in jpy due partly to the rise in Nikkei-225 (currently up by 316 points or 1.42%).
Dollar's intra-day break of previous resistance at 107.72 suggests pullback from last week's high at 108.16 (Wednesday) has ended at 107.34 Thursday and consolidation with upside bias remains for gain to 107.98, then towards said resistance.
Bids are now seen at 107.50/60 and more below at 107.30/40 with stops building up below there whilst initial offers are noted at 108.30/40.
Market focus is now on the release of U.S. ISM non-manufacturing PMI at 14:00GMT. Street forecast is 49.5, up from previous reading of 45.4.
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